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Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
 The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into the new year) has kept the pressure on all dry bulk segments, pushing the indices down to levels not seen in very long time. The BDI ended the week at 862 points (-18.1%), a last reached just after the Lehman Bros shock in October and November 2008.
The individual segments read as follows: the BCI dropped to 1,554 (-9.8%), the BPI and the BSI to 1,020 (-19.3%) and 807 (-16.9%) respectively, and the BHI slipped to 485 points (-9.0%). All sizes continued to head south at the start of the new week.
Capesize
Another severe drop in the Capesize 4TC this last week as China prepared for its New Year celebrations, removing any possibility of a turnaround in the near term. At $6,688 per day by close on Friday, this represents the lowest level for eight months, and a 27% drop on the previous week. At these levels, lay-up has again become a reality. The Atlantic market saw the biggest decline with Bolivar-east Med dropping as much as 10% and Tubarao- Rotterdam 6%. In the Pacific, trade was fairly brisk but rates remained flat to slightly negative at $7.60-$7.65. Tubarao- China dropped 3% to $19.55 by Friday and was reported as low as $19.35. However in the FFA market, activity suggested rates may be close to a bottom, and overall Feb+Mar and Cal12 closed the week up, at $10,529 (+679) and $12,958 (+334). Monday saw another fall in the 4TC however, and the Cape time charter average is now trading at a 6% discount to the Handies.
Panamax
Last week saw the decline in Panamax rates continue unabated in the face of limited fresh cargoes and an ever growing tonnage list. The Atlantic market remained under pressure with the 1A index falling back from $10,731 to $7,824, and 2A index from $21,183 to $18,127. One of the primary drivers behind this trend (besides the distinct lack of cargo) has been the sheer number of ballasters arriving from the East. High coal stockpiles, uncertainty surrounding forward demand for both iron ore and steel products, and the imminent lunar New Year holidays have depressed demand in the Pacific, forcing many owners to search for business elsewhere. Both 1A and 2A markets have subsequently been hammered, with many fixtures in fact being reported at levels well below that of the current index. The supply side is unlikely to improve any time soon, as many newbuilds initially slated for delivery at the end of 2011 are pushed back into Q1 2012. The outlook in the coming weeks remains bearish, with reported 3-5 month period rates declining below $10,000 per day basis delivery Far East. There are some commentators who believe rates should decline less sharply in the coming week or two, although likewise it is also difficult to argue in favour of any sharp improvement.
Supramax/Handy
The Handy/Handymax market saw rates heading south throughout last week although at a slower pace than their larger cousins. The week started at almost $10,000 and closed at $8,500 for the Supras and $7,600 down to $6,900 for the Handies. A remarkable achievement in an otherwise dull market largely affected by the holidays in the Far East. No area was spared except maybe for South America where some activity started, together with the grain exports out of Argentina. That being said, the reduction of the available draft in the river is affecting owners’ revenue.
The rest of the world has been severely hit with the USG taking the biggest hit since there were reports last week of a TES 58 fixing at $13,500 for a trip to the Continent. Period activity has come close to zero, with no one willing to commit, although some index-linked deals randomly surface.
BRS wishing their Chinese readers a Gong Xi Fa Cai.
Source: Barry Rogliano Salles
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Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
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- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- MS Steel International - UAE
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- GVK Power & Infra Limited - India
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